The Real Deal New York

Build a 276K sf project on this Hudson Heights site heading for foreclosure

Auction for One Bennett Park slated for Aug. 15
By Eddie Small | August 01, 2018 11:02AM

A rendering of One Bennett Park at 730-734 West 184th Street (Credit: PropertyIDX)

The site of a notoriously delayed condominium project in Hudson Heights that became one of the most prominent symbols of the country’s 2008 financial collapse is officially headed for foreclosure.

The auction for One Bennett Park will take place at 11 a.m. on August 15 at 1177 Avenue of the Americas, the Manhattan office of the law firm Kramer Levin Naftalis & Frankel, according to Ariel Property Advisors, which will run the foreclosure process.

The property encompasses addresses at 33-35 Overlook Terrace, 730-734 West 184th Street and 524 Fort Washington Avenue. It spans 117 feet at the intersection of West 184th Street and Overlook Terrace and includes a perpetual 15-foot block-through easement that offers easy access to Ft. Washington Boulevard on West 184th Street.

The site comes with a total of roughly 146,000 buildable square feet for a residential project or 276,000 square feet for a residential project with community space, meaning buyers could have the chance to develop the neighborhood’s first high-rise residential building, according to Ariel.

Victor Sozio, Shimon Shkury, Michael Tortorici, Matthew Gillis and David Khukhashvili of Ariel will lead the foreclosure process, and Fort Tryon Overlook LLC will put the property up for sale.

The site of One Bennett Park (Credit: Google Maps)

Developer Rutherford Thompson of Thompson Development Group had been planning a 23-story, 114-unit condo building at the site dubbed Fort Tryon Towers. It was originally slated to open back in 2009 before getting stymied by factors including the 2008 financial collapse and a lawsuit between the projects’ lenders. It appeared to get a boost in 2014 when a Manhattan Supreme Court judge ruled that lender Amalgamated Bank had to resume funding the project, but the development still never got off the ground.